Fortress Biotech, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of stock-based compensation expense

The following table summarizes the stock-based compensation expense from stock option, employee stock purchase programs and restricted Common Stock awards and warrants for the three and six months ended June 30, 2019 and 2018:


	Three Months Ended June 30,				Six Months Ended June 30,
($ in thousands)	2019		2018		2019		2018
Employee awards	$	920	$	1,121	$	1,855	$	2,063
Executive awards of Fortress Companies’ stock		355		444		707		962
Non-employee awards		71		23		69		46
Fortress Companies:
Avenue		535		322		1,286		671
Checkpoint		813		72		1,611		1,209
Mustang		622		972		1,054		2,966
Other		57		198		100		30
Total stock-based compensation expense	$	3,373	$	3,152	$	6,682	$	7,947

Summary of Fortress stock option activities excluding activity related to Fortress partner companies

The following table summarizes Fortress stock option activities excluding activity related to Fortress partner companies:


						Weighted average
				Total		remaining
		Weighted average		Weighted average		contractual life
	Number of shares	exercise price		intrinsic value		(years)
Options vested and expected to vest at December 31, 2018	1,285,501	$	3.75	$	—	2.93
Granted	125,000	$	1.18		40,000	—
Options vested and expected to vest at June 30, 2019	1,410,501	$	4.30	$	89,249	2.83
Options vested and exercisable	1,285,501	$	4.60	$	49,249	2.67

Summary of Fortress restricted stock awards and restricted stock units activities, excluding activities related to Fortress Companies

The following table summarizes Fortress restricted stock awards and restricted stock units activities, excluding activities related to Fortress Companies:


		Weighted average
	Number of shares	grant price
Unvested balance at December 31, 2018	12,645,982	$	2.72
Restricted stock granted	1,516,408		0.86
Restricted stock forfeited	—		—
Restricted stock vested	(220,000)		3.16
Restricted stock units granted	40,000		1.63
Restricted stock units forfeited	(185,106)		4.45
Restricted stock units vested	(148,334)		3.41
Unvested balance at June 30, 2019	13,648,950	$	2.47

Summary of Fortress warrant activities, excluding activities related to Fortress Companies

The following table summarizes Fortress warrant activities, excluding activities related to Fortress Companies:


						Weighted average
						remaining
	Number of	Weighted average		Total intrinsic		contractual life
	shares	exercise price		value		(years)
Outstanding as of December 31, 2018	2,754,189	$	3.28	$	7,800	3.49
No activity	—		—		—	—
Outstanding as of June 30, 2019	2,754,189	$	3.28	$	7,800	3.00
Exercisable as of June 30, 2019	849,189	$	3.92	$	7,800	2.64

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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